B.O.S.S. Retirement Advisors LLC Purchases New Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

B.O.S.S. Retirement Advisors LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, HoldingsChannel reports. The fund purchased 1,313 shares of the business services provider’s stock, valued at approximately $384,000.

Other institutional investors have also recently made changes to their positions in the company. Monte Financial Group LLC lifted its stake in Automatic Data Processing by 1.5% in the fourth quarter. Monte Financial Group LLC now owns 16,877 shares of the business services provider’s stock worth $4,940,000 after purchasing an additional 243 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its stake in Automatic Data Processing by 39.4% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 267,104 shares of the business services provider’s stock worth $78,167,000 after purchasing an additional 75,448 shares during the last quarter. CFS Investment Advisory Services LLC lifted its stake in Automatic Data Processing by 1.0% in the fourth quarter. CFS Investment Advisory Services LLC now owns 10,186 shares of the business services provider’s stock worth $2,982,000 after purchasing an additional 103 shares during the last quarter. Grimes & Company Inc. lifted its stake in Automatic Data Processing by 4.1% in the fourth quarter. Grimes & Company Inc. now owns 3,252 shares of the business services provider’s stock worth $952,000 after purchasing an additional 129 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its stake in Automatic Data Processing by 11.6% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 2,338 shares of the business services provider’s stock worth $684,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research analyst reports. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. UBS Group lifted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday, January 19th. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada lifted their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $297.10 on Friday. The firm’s fifty day simple moving average is $297.13 and its two-hundred day simple moving average is $282.10. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The firm has a market capitalization of $121.06 billion, a P/E ratio of 31.71, a P/E/G ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.08 earnings per share. Analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,129 shares of company stock valued at $12,604,872 over the last ninety days. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.